Viant Technology (NASDAQ:DSP) Upgraded at Zacks Investment Research

Viant Technology (NASDAQ:DSP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Viant Technology Inc. is an advertising software company which enables marketers and their advertising agencies to plan, buy and measure their advertising. Its self-service DSP for omnichannel advertising, Adelphic(R), provides execute programmatic advertising campaigns across desktop, mobile, connected TV, linear TV, streaming audio and digital billboards. Viant Technology Inc. is based in IRVINE, Calif. “

Several other equities analysts have also issued reports on DSP. Canaccord Genuity reduced their target price on Viant Technology from $48.00 to $38.00 and set a “buy” rating for the company in a report on Friday, August 13th. They noted that the move was a valuation call. Bank of America raised Viant Technology from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Friday, July 30th. JMP Securities raised Viant Technology from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Monday, September 27th. Needham & Company LLC began coverage on Viant Technology in a report on Friday, July 2nd. They issued a “buy” rating and a $62.00 target price for the company. Finally, Berenberg Bank began coverage on Viant Technology in a report on Wednesday, September 22nd. They issued a “buy” rating and a $20.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.60.

Shares of Viant Technology stock traded up $0.71 on Wednesday, hitting $13.34. The company had a trading volume of 92,984 shares, compared to its average volume of 378,729. The stock has a market capitalization of $803.80 million and a price-to-earnings ratio of 0.65. Viant Technology has a 1 year low of $11.49 and a 1 year high of $69.16. The stock has a 50 day moving average of $13.90 and a 200-day moving average of $24.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.74 and a current ratio of 5.74.

Viant Technology (NASDAQ:DSP) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($2.51) EPS for the quarter, topping the consensus estimate of ($2.80) by $0.29. The company had revenue of $32.20 million during the quarter, compared to analysts’ expectations of $30.50 million. Equities analysts anticipate that Viant Technology will post -2.99 earnings per share for the current year.

In other Viant Technology news, CFO Larry Madden sold 18,404 shares of the stock in a transaction on Monday, September 13th. The stock was sold at an average price of $12.51, for a total transaction of $230,234.04. Following the completion of the transaction, the chief financial officer now directly owns 416,075 shares of the company’s stock, valued at $5,205,098.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Several large investors have recently bought and sold shares of the business. Citigroup Inc. purchased a new stake in shares of Viant Technology during the first quarter worth $38,000. The Manufacturers Life Insurance Company lifted its position in shares of Viant Technology by 16.4% during the second quarter. The Manufacturers Life Insurance Company now owns 7,090 shares of the company’s stock worth $211,000 after acquiring an additional 999 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Viant Technology by 30.3% during the second quarter. New York State Common Retirement Fund now owns 8,988 shares of the company’s stock worth $268,000 after acquiring an additional 2,088 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Viant Technology by 41.3% during the second quarter. Envestnet Asset Management Inc. now owns 9,261 shares of the company’s stock worth $276,000 after acquiring an additional 2,708 shares in the last quarter. Finally, Atom Investors LP purchased a new stake in shares of Viant Technology during the first quarter worth $234,000. Hedge funds and other institutional investors own 19.68% of the company’s stock.

Viant Technology Company Profile

Viant Technology Inc operates as an advertising software company. It provides Adelphic, an enterprise software platform that enables marketers and their advertising agencies to plan, buy, and measure advertising across channels. The company also offers cloud-based self-service portal that provides customers with transparency and control over their advertising campaigns and underlying data infrastructure; omnichannel demand side platform for ad buyers to manage omnichannel campaigns and access metrics from each channel to inform decisions in other channels; and Data lake, a software and self-service enables customers with differentiated insights, including foot-traffic data reports, multi-touch attribution, and ROAS analytics.

Further Reading: Hold Rating

Get a free copy of the Zacks research report on Viant Technology (DSP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Viant Technology (NASDAQ:DSP)

Receive News & Ratings for Viant Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viant Technology and related companies with MarketBeat.com's FREE daily email newsletter.